Spanish households reduce money for savings
The one who keeps, ends up finding. That says an old phrase that refers to the need to save money on the part of the families. There are times when you have to face an extraordinary expense or situations in which you must pay an important amount as it is in the case of return to school or vacation. How much do Spanish households dedicate to this item?
About it the report Non-Financial Quarterly Accounts of the Institutional Sectors prepared by the National Institute of Statistics, INE. A work in which it is reflected that savings in homes in Spain has been reduced from one year to the next. In fact, this item of spending on families has been reduced to reach numbers that were not seen since 2008.
More expenses than rent
The data offered by the INE indicate that in the third quarter of 2017 the gross income of Spanish households was 165,387 million euros, an increase of 1.3% over last year's numbers. However, the families of this country also spent more than last year, specifically 166,138 million euros, which meant an increase of 3.5%.
That is, the Spaniards spent more than the income they received. This translates into a negative savings rate of -0,7%. Considering the annual rate, this remains at 6.1%, 0.5 points less than in the previous year at this time. Although it is usual for the last quarter of each year to record a smaller amount of money destined for this purpose for Christmas expenses, this is the first one that registers a figure below zero.
The third quarter of 2016 represented a savings rate of 1.5%, which meant that households kept part of their income for some future expenses. This 2017 was a result of -0.7% in this regard. At the annual level, 6.1% is very close to the 5.9% registered in 2008, year in which the beginning of the crisis could explain that families allocate a smaller amount of money to this end.
Tricks to save
Saving is important since this depends on the fact that unforeseen expenses can soon be met. These are some tips that are offered from the Organization of consumers and users so that homes for this purpose in the families of our country:
- Look at discounts. At the time of making the purchase it is worthwhile to look at whether one of the products to buy has a discount. Maybe you have to change one brand for another, but this system will allow you to keep a small amount in your piggy bank.
- Know the commercial surfaces. Not all supermarkets have the same prices, opting for the cheapest prices when making the purchase of the month will mean significant savings in the long run.
- Value online purchases. Especially for gifts at Christmas, the internet can be an important sales portal through which to save some expenses such as the distribution of intermediaries in the sale.
- Turn off what is not used. Cluelessness is not a savings friend. Sometimes a person leaves a room and does not turn off the light. A few small revisions from time to time can translate into significant savings in the long run.
- Fees necessary. The greater speed of available Internet is not always the one that more agrees, for that reason it is necessary to be realistic with the necessities of Internet at the time of hiring these services.